CHUBB Arabia renews one-year insurance contract with Sipchem

Sipchem renews coverage for one year

CHUBB Arabia Cooperative Insurance Co. received confirmation from Sahara International Petrochemical Co. (Sipchem) renewing its insurance contract, covering property all-risk and business interruption under the agreed terms. The contract was signed on November 1, 2026, and has a duration of one year.

The insurer said the agreement was reached in the ordinary course of business, with no related parties and no preferential treatment.

Contract value exceeds the disclosure threshold

CHUBB Arabia said the contract value exceeds 5% of its total insurance revenue based on audited financial statements for 2025. Total insurance revenue stood at SAR 392.97 million at the end of 2025, making 5% approximately SAR 19.65 million.

The disclosed threshold indicates that the contract value is above that amount, but the available disclosures do not provide the exact contract value.

Positive financial impact expected

CHUBB Arabia expects the renewed contract to have a positive impact on its financial results for 2026 and 2027. This is the insurer's company expectation rather than a disclosed realized financial effect.

The next verifiable milestone is the reporting of the contract's contribution to CHUBB Arabia's financial results during the stated period, although the reviewed sources do not specify a reporting date or other future disclosure milestone.